Making bizum has become a recurring behavior among Spaniards. split the bill Dinner with friends, debt repayment This payment method has already become part of everyday life and even threatens to replace cash. Although banknotes and coins still predominate in transactions between individuals, their use for instant money transfers is becoming less and less and continues to decline. They begin to replace physical money.
According to the “Survey on Cash Usage Habits” prepared by the Bank of Spain (BdE), banknotes are emerging as a way to use cash. Most common payment for 57% of the population10 percentage points lower than that recorded last year, this decline is precisely Bismrising from 28% to 37%. Bank transfers sit in the background and account for 2% of all transactions.
However, this behavior cannot be applied to all age groups. The segment is under 45 years old. Bizum is one of the most popular, especially if you are studying at a university. in contrast, This is a group for people over 55 years old. In basic research, the use of cash is becoming more prevalent, primarily due to convenience, habit, and control over spending.
The document highlights the trend to gradually reduce cash, considering that only half of Spanish households have cash. enough cash to cover daily expenses. Twelve months ago, this percentage was 56%. On the other hand, the number of people who have physical money for emergencies is staggering, increasing from 29% to 32%. Meanwhile, 8% continue to save At home as an alternative to the bank.
Small business and hospitality
the other side of Small and medium-sized enterprises represent the currency. The hospitality industry is seeing higher levels of card acceptance and payments, especially on mobile devices. From a sample of 1,594 personal interviews, more than 4 out of 10 facilities Most operations are performed on cards The majority of cash will decrease (30%).
In this context, citizens often rely on cash in physical facilities on a daily basis, despite the decline experienced. Percentage of people using cardsOn the other hand, the number of people using mobile devices every day will increase, with vertical growth expected from 2022. In this sense, “smartphone” has progressed by 4 points as the main means of payment, from 11 to 15%, and in the first case 57%. With 2 cutoutsin second place it was 27%, down from 30%.
The report identifies the top concerns around spending and privacy controls when it comes to digital payments. Discomfort felt by the people You can make certain payments if you use cash instead of electronic format. These responses show that a growing number of people do not use cash or cards at least once a week. Your mobile device will be the winner.
In 2024, Bizum recorded approximately 1.1 billion transactions, with a transaction value of over 44.26 billion. Looking ahead to 2025, here’s what the platform looks like: angel nigora In addition to increasing the number of users from 28 at the end of last year to 30 million, the company aims to achieve 1.15 billion transactions between individuals and over 100 million payments in e-commerce.
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